Canada’s economy contracted 0.2 % in February, its first monthly decline since November, as slumps in mining, oil and gas extraction, and construction dragged overall output lower, Statistics Canada said.
Canada’s economy contracted by 0.2 percent in February, the first monthly decline since November, as weakness in mining, oil and gas extraction and construction offset gains elsewhere, Statistics Canada reported on Wednesday.
The goods-producing side of the economy shrank 0.6 percent, led by a 2.5 percent slide in mining, quarrying and oil and gas extraction after two months of growth. Construction fell 0.5 percent—its first drop in four months—driven largely by a 0.9 percent decline in residential building activity. Service-producing industries edged down 0.1 percent, with modest pullbacks in real-estate rental and leasing, finance and insurance, and education.
Statistics Canada said harsh winter storms in several provinces contributed to February’s weakness. Businesses also faced softer demand after earlier stocking up on supplies amid uncertainty over potential U.S. tariffs; those advance purchases have left inventories high and dampened new orders.
Analysts had expected February output to be flat, matching the agency’s advance reading. January GDP had climbed 0.4 percent.
StatCan’s early estimate points to a 0.1 percent expansion in March and annualised first-quarter growth of about 1.5 percent, though final quarterly figures—calculated from expenditure and income data—may differ slightly.
While strong consumer spending and lower interest rates lifted growth late last year, the Bank of Canada warns that 2025 could prove challenging as the economy contends with U.S. duties on steel, aluminium, autos and other goods.
Ukraine expects to sign a revamped minerals partnership with the United States within 24 hours, Prime Minister Denys Shmyhal said Wednesday, adding that future U.S. aid could count toward the deal’s funding.
China has lifted sanctions on five current and former Members of the European Parliament, signaling a move to ease tensions with the European Union and revive stalled trade negotiations.
The Senate Commerce Committee on Wednesday advanced President Donald Trump’s picks of private astronaut-entrepreneur Jared Isaacman to run NASA and aide Olivia Trusty to fill an FCC seat, moves that would hand Republicans a 3-2 majority on the telecom regulator.
On the eve of crucial local elections across England, Prime Minister Keir Starmer came under intense scrutiny during Wednesday’s Prime Minister’s Questions, facing criticism on border control, grooming gangs, and UK-US trade talks.
Turkish President Recep Tayyip Erdogan said Türkiye welcomes US President Donald Trump’s approach that respects its national sensitivities, particularly on the Syria issue, adding that both leaders share mutual understanding.
Ukraine expects to sign a revamped minerals partnership with the United States within 24 hours, Prime Minister Denys Shmyhal said Wednesday, adding that future U.S. aid could count toward the deal’s funding.
China has lifted sanctions on five current and former Members of the European Parliament, signaling a move to ease tensions with the European Union and revive stalled trade negotiations.
The Senate Commerce Committee on Wednesday advanced President Donald Trump’s picks of private astronaut-entrepreneur Jared Isaacman to run NASA and aide Olivia Trusty to fill an FCC seat, moves that would hand Republicans a 3-2 majority on the telecom regulator.
On the eve of crucial local elections across England, Prime Minister Keir Starmer came under intense scrutiny during Wednesday’s Prime Minister’s Questions, facing criticism on border control, grooming gangs, and UK-US trade talks.
U.S. President Donald Trump on Wednesday urged Americans to remain patient following a first-quarter economic contraction, insisting the downturn was not caused by his tariff policies.
Russia launched a major missile and drone assault on Kyiv overnight on April 24, killing at least twelve people and injuring 90, including children and a pregnant woman, according to Mayor Vitali Klitschko.
In an expansive interview marking his first 100 days back in office, President Donald Trump sketched out an agenda that touches everything from punitive tariffs and China policy to cease-fire hopes in Ukraine and an overhaul of domestic programmes. Below are the highlights.
A deadly explosion at Iran’s Bandar Abbas port has left at least 40 dead, with more than 1,200 people injured, state media reported on Sunday, halting operations at one of the country’s most vital trade hubs.
For three generations, the Liebigs built railcars in Görlitz. Now, the factory that shaped their lives will produce parts for battle tanks.
North Korea has launched a new 5,000-tonne destroyer as part of Kim Jong Un’s plans to expand the country’s naval power far beyond its coastal waters.
Survivors’ advocates urged cardinals on Wednesday to elect a pope who will put the Church’s clergy-abuse crisis front and center, saying three consecutive pontiffs have failed to do so.
Ukraine expects to sign a revamped minerals partnership with the United States within 24 hours, Prime Minister Denys Shmyhal said Wednesday, adding that future U.S. aid could count toward the deal’s funding.
China has lifted sanctions on five current and former Members of the European Parliament, signaling a move to ease tensions with the European Union and revive stalled trade negotiations.
The Senate Commerce Committee on Wednesday advanced President Donald Trump’s picks of private astronaut-entrepreneur Jared Isaacman to run NASA and aide Olivia Trusty to fill an FCC seat, moves that would hand Republicans a 3-2 majority on the telecom regulator.
On the eve of crucial local elections across England, Prime Minister Keir Starmer came under intense scrutiny during Wednesday’s Prime Minister’s Questions, facing criticism on border control, grooming gangs, and UK-US trade talks.
Ukraine expects to sign a revamped minerals partnership with the United States within 24 hours, Prime Minister Denys Shmyhal said Wednesday, adding that future U.S. aid could count toward the deal’s funding.
China has lifted sanctions on five current and former Members of the European Parliament, signaling a move to ease tensions with the European Union and revive stalled trade negotiations.
The Senate Commerce Committee on Wednesday advanced President Donald Trump’s picks of private astronaut-entrepreneur Jared Isaacman to run NASA and aide Olivia Trusty to fill an FCC seat, moves that would hand Republicans a 3-2 majority on the telecom regulator.
On the eve of crucial local elections across England, Prime Minister Keir Starmer came under intense scrutiny during Wednesday’s Prime Minister’s Questions, facing criticism on border control, grooming gangs, and UK-US trade talks.
U.S. President Donald Trump on Wednesday urged Americans to remain patient following a first-quarter economic contraction, insisting the downturn was not caused by his tariff policies.
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